A Study on Prediction of Output in Oilfield Using Multiple Linear Regression

This report basically discusses about method that has been done to validate this
study, which is A Study on Prediction of Output Oilfield Using Multiple Linear
Regression. The objective of the project is to come out with a solution on how to
predict the output of oilfield using multiple linear regressions. The basic method is to
establish the linear relationship between oil output in oilfield and the influencing
factors. An oilfield is an area with reserves of recoverable petroleum, especially one
with several oil-producing wells [lJ· The challenge in this project is to find the
variable for the output of oilfield because here are numerous factors affecting output
in an oilfield. The relationship between field output and one of the affecting factors is
unscientific and are not precise, which it is needed to come out with a simple and
more accurate. After a several studies have been made, there are some factors
affecting the output that were identified as variables for the output in an oilfield.
There are 8 parameters that have been identified to predict the oilfield of output.
Then the author constructs full calculation in order to find the data and value for
regression coefficient, ~ to predict the output oilfield. The author also used the
ordinary least squares method to minimize the sum of variables by eliminating the
least important variables. Last but not least, the author uses different set of data with
the same parameters to do some comparison and verified the validity of this method.